Jacobs Solutions Inc. (NYSE:J) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada boosted its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 27.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,046,806 shares of the company's stock after purchasing an additional 227,047 shares during the quarter. Royal Bank of Canada owned approximately 0.85% of Jacobs Solutions worth $139,875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC grew its position in Jacobs Solutions by 345.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company's stock valued at $619,676,000 after acquiring an additional 3,597,564 shares during the period. Lazard Asset Management LLC grew its position in Jacobs Solutions by 933.6% during the fourth quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company's stock valued at $281,808,000 after acquiring an additional 1,904,988 shares during the period. Ninety One UK Ltd grew its position in Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock valued at $265,649,000 after acquiring an additional 449,161 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Jacobs Solutions by 15,913.6% in the fourth quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company's stock worth $59,977,000 after buying an additional 446,057 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Jacobs Solutions by 148.2% in the fourth quarter. Deutsche Bank AG now owns 664,564 shares of the company's stock worth $88,799,000 after buying an additional 396,759 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial upped their target price on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. UBS Group decreased their target price on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Robert W. Baird decreased their target price on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Citigroup decreased their target price on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Royal Bank of Canada increased their price target on Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $150.86.

Jacobs Solutions Stock Down 0.8%

J traded down $0.98 on Friday, reaching $125.83. The company's stock had a trading volume of 510,846 shares, compared to its average volume of 802,213. The stock has a market cap of $15.12 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $156.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The business's 50 day moving average is $121.43 and its 200 day moving average is $129.95.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $3 billion. During the same quarter in the prior year, the firm posted $1.91 earnings per share. Jacobs Solutions's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Jacobs Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions's payout ratio is currently 35.26%.

About Jacobs Solutions

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.